New space hub to emerge in China — RT Business News

Planned innovations include reusable vertical-landing rockets and low-cost satellites

Shanghai plans to become an innovation hub for space technology development by 2025, the local government said Wednesday.

The city, which is already a major Chinese industrial and commercial center, will set up mass production of low-cost commercial satellites and assembly lines for rockets, including reusable rockets that can take off and land vertically, according to a notice on the Shanghai government website.

China is pushing to become a major space power by 2030, with plans to return samples from the Moon, Mars and an asteroid, as well as a comet rendezvous and a Jupiter mission.

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Last year, Shenzhen Tech City offered up to 300 million yuan ($47 million) for each project related to satellite development and related industrial applications.

A new commercial spaceport is planned in the southern province of Hainan, and the country’s fifth rocket launch site is being built in Zhejiang province. China’s space launch rates have more than doubled in the past five years, with 207 missions between 2016 and 2021.

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